Cyprus offers better value for money as it moves up to sixth place in the UK Post Office Worldwide Holiday Costs Barometer 2017 table.
In the report published yesterday, Paphos in Cyprus achieved its highest ever place in the top ten list, which this year is dominated by European countries. It went on state that this "spells good news for those planning to visit the Cypriot resort in its year as joint European Capital of Culture."
The aim of the report is to show destinations where the holiday purse will stretch furthest, this year it highlights that value for money will be a crucial commodity as affordability rather than aspiration provides the clue to holiday choice.
The annual Holiday Money Report, by Post Office Travel Money, the UK’s largest provider of foreign currency says Europe could be the big winner as tighter budgets attract UK tourists to resorts where the holiday purse will stretch furthest.
The Holiday Costs Barometer gathers data from around the world on some of the most common holiday buys, enabling visitors to see how various destinations measure up. Researchers looked at the costs of a cup of coffee, a bottle of local beer, a can/bottle of cola, a bottle of mineral water, a glass of wine, suncream, insect repellent and finally a three course meal for two inc wine to complete the tourist basket.
The total purchase price for the above in Paphos when converted to Sterling was: £53.03
While the Post Office Travel Money Holiday Money Report acknowledges the impact of the weaker pound on holiday costs in the coming year compared with 2015 and 2016, it points out that sterling is actually stronger now than it was five years ago.
Andrew Brown of Post Office Travel Money said: “Holidaymakers can do little about sterling’s value but they can do their homework and plan trips to resorts or cities where prices for meals, drinks and other tourist staples are low.Europe is looking unbeatable value with nine of this year’s 10 cheapest destinations, not to mention local price falls in half the European resorts and cities we surveyed."